Location: Durham-Chapel Hill, NC | Metro: Durham-Chapel Hill, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,510 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,510 |
| 5 Bedrooms | $2,912 |
| 6 Bedrooms | $3,261 |
| 7 Bedrooms | $3,522 |
| 8 Bedrooms | $3,698 |
To classify ZIP code 27599, we must rely on the data available for the Fair Market Rent (FMR) and other metrics. The FMR for ZIP 27599 in fiscal year 2024 is set at $1670. This figure represents the maximum amount that a landlord can charge for a rental property under the Section 8 program. However, the absence of market rent and home value data makes it challenging to provide a complete analysis of the yield potential.
In terms of stability, we typically look at the percentage of renters, days on market (DOM), and median income levels. Unfortunately, the data provided does not include these metrics for ZIP 27599, leaving us without a comprehensive view of the local housing market's stability.
Given the limited information, we can infer that ZIP 27599 offers a guaranteed yield through the Section 8 program, which is a stable source of income for landlords participating in the scheme. The FMR of $1670 ensures a predictable cash flow for those properties enrolled in Section 8. Without market rent figures, it's unclear if this ZIP is a high-yield market compared to the broader private sector, but it certainly provides a reliable income stream for subsidized units.
The lack of data on the percentage of renters, days on market, and median income means we cannot fully assess the stability of the overall market in ZIP 27599. These missing details are crucial for understanding whether the area leans towards a high-yield, low-stability environment, typical of flip-style markets, or a steadier cash flow zone where long-term investments might thrive.
To make a more informed decision, landlords and small-portfolio investors should seek additional data on local market rents and home values to compare against the FMR. Median income levels would also help gauge the financial health of potential tenants, while the percentage of renters and days on market could offer insights into the competition and demand for rental properties in the area.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.